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CarParts.com, Inc.CarParts.com, Inc.CarParts.com, Inc.

CarParts.com, Inc.

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PRTS trade ideas

Still here, still bull flaggingPrice action has moved mostly sideways since settling down post earnings. Seems to be following the diagonally price fork over the channel. Original Price channel is now highlight by orange and red lines. Currently the price cannot get through the orange line as it moves sideways Sideways consolidation is still bullish, as time is what will take the PA to the end of the pattern. I think there will be another retest of the bottom of the pattern before reaching the end.
NASDAQ:PRTSLong
by Kazparov
Yet another Bull Flag; Looking for a breakout.A familiar pattern is repeating itself. After a bit of (expected) volatility it appears PRTS is once again forming a Bull Flag. Earnings were positive. MA's on the hourly are crossing over and pointing up. Volume Profile on the shorter term chart is again building it's base at the upper range of the bull flag. These are all patterns we have seen before. The stock price has had good adherence to the price fork yet again and now appears to be stabilizing within the old price channel which is defnied here as the higher green line and the lower heavy red. On the Daily chart the RSI support we were tracking before broke lower, but now appears to be in a tight channel created on off the RSI low back in back and the old RSI support (now resistance) Still leading us higher and by no means is the stock overbought anymore. I feel that as the market itself overall liquidity will be looking for stocks which continue to move, so we will still see some action in PRTS even if the overall indices are a bit flat.
NASDAQ:PRTSLong
by Kazparov
The Bull run is not over. So PRTS survived through earnings. .03 EPS which was better than expected but overall margins and EBITA were all positive. I didn't play it correctly but I like to trade recognizable patterns and thought the day go go a bunch of different ways. Earning date itself saw a huge spike as high as $16.44 which helped define the top of the price channel. It was sold off pretty heavily but still stayed within its level on the price fork. Following that we have had two days of good gains on strong volume. I am curious if the RSI wedge on the daily chart which was broken is now going to be support. Today it actually turned around right on that spot, could be coincidence, needs more tests to see if that's true. Right now looks like a buy around the original price channel, and certainly the lower green line which has been tested a few times and held. Currently have no positions. The puts appear to be very illiquid so Im not getting involved with that which would bea normally way for me to play the short side with less risk.
NASDAQ:PRTSLong
by Kazparov
Bull run over? The air is quickly getting let out of the bag now. Point of Control on the volume profile for the long term chart clear shows this has room to run lower. RSI support line is VERY broken, now I expect a reset to lower. Earnings SHOULD be positive but the question remains on if and how the company is faring. It's certainly not the only online car part retailer out there. And even if the news is great is it 5x 6x? I'm not short shares for the record. But feel its going down farther
NASDAQ:PRTSShort
by Kazparov
PRTS update: Caution! PRTS has a filing with the SEC for a shelf offering of new shares worth 200 million. Given that their market cap currently sits at 568 million this is a dilution of over 1/3. Interesting is the timing of this announcement given earnings is a few days away. Typically on a great earnings call a company may mention a new share release in the earnings call. Given that this is a heavily day traded stock they might be hoping that that dumb retail buys it all up. I may be reading too much into it, lets see how the SP reacts. A new bull pennant has formed. And support along the trading fork is holding. It dipped below yesterday on low volume but recovered by EOD. I missed my buy order by 4 cents but now I'm waiting to see how the market reacts to new shares. Note that the SP has typically been bought up when the 20MA and the 50MA start to narrow and want to meet. Interesting day ahead. I currently only have a small amount of shares which have been covering some calls I sold a few weeks past.
NASDAQ:PRTS
by Kazparov
3
$PRTS:NASDAQ - US AUTO PARTS NETWORK - 650% 12 month gainPRTS has been having a crazy run over the last 12 months. Might have been on a bit of a pause before hopefully another run especially as it is still sitting below $10 a share. Worth a watch. U.S. Auto Parts Network, Inc. engages in the provision of automotive aftermarket parts. The firm's flagship websites include www.autopartswarehouse.com, www.carparts.com, www.jcwhitney.com, www.automd.com and www.usautoparts.net. Its products include Collision Parts, Engine Parts, Performance Parts and Accessories. The company was founded by Sol Khazani and Mehran Nia in 1995 and is headquartered in Carson, CA.
NASDAQ:PRTSLong
by zAngus
Price action accelerating into earningsAnother big week for PRTS. The PA seems to have made a jump to the higher price fork and is leaving the main part of the channel its been in since March. There have been have few times the price left this channel, above it in early June, and below it in late June. Although note during that period how it obeyed the fork the entire time. It pushed above on big volume again but on the pullback found support on the new level of the trading fork at around $13.56. The Volume Profile already showing a new point of control at $13.67 as well which adds to the stability of the price action here. the 20 MA seems to be acting as a guide for the price as well. On the Daily chart The RSI wedge is still in play, and it's now at the low point, suggesting there is room to the upside on Monday. MACD still very bullish as well. Given that the market overall rebounded very solidly off lows, fueled by strong moves in tech and Mondays have been usually quite green, I'm betting we see price reach up to the $15 range. The lower green support lines may not be in play for a while. I typically only buy at recognizable support levels, but I took a small bet on the fork level support and especially the RSI support and bought some OTM calls.
NASDAQ:PRTSLong
by Kazparov
Trend update: Volume Profile and POCCurrently the stock is in no mans' land in the middle of its price channel. For those of you not using the volume profile for your trading here's a good example of what you can see. Firstly on the hourly chart above we can see that the Point Of Control (Horizontal Red Line) was at $12.47 while the stock consolidated in the Bull pennant from last week. Point of control is the spot where the most volume was traded, and can act as support or resistance depending on what side of it you are on. Note how today, the share price retreated down from it's overbought peak yesterday, touched the POC before moving up today. Note as well on the hourly chart the upper price bounced off the white line of the trading fork. Now if we shrink to the 5min Chart We can see that a new point of control is being created, at 13.20 which is where the price is resting now during the middle of the trading day. Depending on overall market action We will either see a return up to the upper boundary (Red channel line) around 13.95 or a retrace down to the older point of control or belwo where it meets the lower (green) channel line. My guess is is retraces lower before higher and that we see a price somewhere between 12.25-12.50 which for me is the buy zone.
NASDAQ:PRTS
by Kazparov
1